Compression Therapy Market Expands due to Rising Rate of Injuries; Market to Reach US$4.0 bn by 2023: Transparency Market Research

Published 9:52 AM ET Tue, 15 Dec 2015
Globe Newswire

Albany, NY, Dec. 15, 2015 (GLOBE NEWSWIRE) -- The global compression therapy market is progressing at a CAGR of 5.20% between 2015 and 2023. The market’s value in 2015 is expected to be close to US$2.6 bn, and will reach around US$4 bn by the end of 2023, according to a research report released by Transparency Market Research, titled “Compression Therapy Market (By Technology - Static and Dynamic); (By Product - Compression Pump, Compression Stocking, Compression Bandage and Compression tape) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023”.

The report states that the primary growth driver for the global compression therapy market is the rising number of accidents and an overall increase in the instance of injuries. It is added that most injuries are divided fairly between sports injuries and orthopedic injuries. The report also states that the growing number of diabetics and obese people, who are more prone to injuries, is further boosting the global compression therapy market.

The report explains compression therapy as a gold-standard treatment for multiple afflictions such as chronic venous deficiency, lymphedema, and deep vein thrombosis. The global compression therapy market benefits greatly through demand for its treatment procedures, as they are considered safe, easy to use, and display major improvements in a patient in a short span of time.

The global compression therapy market is, however, restrained by factors such as an inadequate supplementation of suitable reimbursement policies that are relevant to vascular diseases and their treatment, including compression therapy.

The report segments the global compression therapy market according to technology, product, and geography.

According to product type, the global compression therapy market was dominated by the segment of compression bandage products in 2014. This segment held the largest share in the global compression therapy market owing to ease of use, ready availability, and low cost. Compression bandages are widely used for the majority of vascular diseases.

Compression pumps are further dissected into sequential and intermittent compression pumps. Of these, the market was dominated by the sub-segment of intermittent compression pumps in 2014. They are considered to be the gold standard in the treatment of lymphedema.

Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.